Correct option is A
Sol: The correct answer is (a) Commonwealth Bank of Australia
Key points:
- The World Bank has partnered with the Commonwealth Bank of Australia (CBA) to enable secondary bond trading recorded on blockchain. This collaboration allows for the trading of the bond-i, which is a blockchain-operated debt instrument, marking a significant step in utilizing distributed ledger technology for capital markets. The initiative aims to enhance the efficiency and security of securities trading and management
Information booster:
World Bank:
The World Bank is an international financial institution that provides financial and technical assistance to developing countries around the world for development projects (e.g., bridges, roads, schools, etc.) aimed at reducing poverty and promoting sustainable development.
- Financial Assistance: Provides loans and grants to countries for development projects that improve infrastructure, healthcare, education, and governance.
- Technical Expertise: Offers advice, technical knowledge, and research to help countries implement and manage their projects effectively.
- Poverty Reduction: Its primary goal is to reduce poverty and promote shared prosperity by supporting economic development in lower-income countries.
The World Bank has 189 member countries (as of 2024), making it one of the largest multilateral institutions globally.
The World Bank is headquartered in Washington, D.C., United States.
Blockchain:
- Blockchain is a decentralized and distributed digital ledger technology that records transactions across a network of computers.
- It ensures data integrity and security through cryptography, making it tamper-resistant and transparent.
- Transactions are grouped in "blocks," and each block is linked to the previous one, forming a secure chain.
- Blockchain uses consensus mechanisms like Proof of Work (PoW) and Proof of Stake (PoS) to validate transactions.
- Popular blockchain platforms include Bitcoin, Ethereum, and Ripple.
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